BlackSoil Capital Pvt. Ltd, the non-banking financial arm of asset management company BlackSoil Group, has invested around Rs 5 crore ($771,978) in three startups in the form of short-term working capital demand loans, a company executive told VCCircle.

“This is to help them in the short term. It’s kind of a small bridge round to continue their current steady growth. All these companies are inching closer to EBITA profitability and their unit economics are strong. All the three startups would be going for a bigger equity round soon,” Ankur Bansal, co-founder and director, BlackSoil, said.

GoBolt was founded in October 2015 by Parag Aggarwal, Sumit Sharma and Naitik Baghla, all alumni of S.P. Jain Institute of Management and Research. Aggarwal and Baghla were working with pharma major GlaxoSmithKline before co-founding GoBolt, while Sharma was an associate with financial services firm JM Financial.

In June 2016, the company had raised pre-Series A funding from startup incubator MCube8, a division of financial advisory firm MCube Capital.

Singh holds a B.Tech degree in mineral engineering from Indian School of Mines, Dhanbad (Jharkhand). He has earlier worked with Infomedia18, Burrp, OnYoMo and HCL. Utreja is a computer science graduate and has earlier worked at TCS and Burrp.

In February last year, SaaS-based CRM solutions provider Capillary Technologies Pvt Ltd had picked up a minority stake in WebEngage.

Truweight Wellness

Founded by Vishnu Saraf and Megha More, Truweight Wellness Private Limited provides weight loss counselling. Its programme provide users with customised plans that includes nutrition mentoring for weight loss. The startup's mobile app connects clients to personal dieticians for real-time counselling and provides users access to the firm’s food products, which are available across the country. Truweight has around 30 food products made with over 25 ingredients such as spirulina, barley grass, alfalfa grass, acacia gum, herbs, and foxtail millet, to name a few.

Saraf is an alumnus of IIM-Ahmedabad, while More is a management graduate from Management Development Institute, Gurgaon.